Posted on 07/25/2018 6:47:24 PM PDT by MtnClimber
The tech-heavy Nasdaq was set for a big down day Thursday after disappointing quarterly results from Facebook sent the social media giant hurtling toward its biggest share price decline ever and on track to lose more than $125 billion in market value.
The Invesco QQQ Trust, which tracks the Nasdaq 100 index and can give traders a good idea of how the Nasdaq stocks will trade, was down more than 2 percent at one point in after-hours trading Wednesday. At last count, the ETF was off by about 1.5 percent. Nasdaq futures opened lower Wednesday evening, off by about 0.8 percent. Facebook lost more than a fifth of its value after hours.
Big technology stocks other than Facebook felt the collateral damage as investors fled the sector. Apple lost about 1 percent. Facebook's "FANG" brethren were also lower. Amazon, which reports after the bell Thursday, lost 2.3 percent. Netflix, which disappointed FANG investors with its own set of weak results earlier this earnings season, shed about 3 percent in after-hours. Google parent Alphabet fell 2.4 percent.
(Excerpt) Read more at cnbc.com ...
Yea, they data mine on users and make some available to those who will pay for it and some they make public on the users page links.
If this happens, there should be some good buying opportunities.
Yep,they sell low and buy high;)
True. I had a big chunk of cash and put over 1/3 into tech and NASDAQ on Monday. I still have the rest that I was holding as insurance against unexpected happenings.
+1000 sums it up perfectly
What an upside down world we live in...
“They are a company that makes NOTHING and exist to datamine and spy on decent American citizens. They should have zero impact on financial markets in a sane world.”
Potential buying opportunity ahead in stocks that are collateral damage. (Those with good fundamentals but in the tech sector.)
I should have read the thread first. You beat me to the thought by at least a quarter of an hour.
Heck, its stock will probably go up now that they have reformed and flushed all their bots and fake accounts and are a new and meaner policed more betterer Fussbook. more censors than ever.. Ohhh wait..
Such widespread selling in tech would take down the S&P 500. Then index-fund holders will get nervous and start selling too.
Stocks have been overvalued since at least 2013. Every dollar will be erased in the next crash. It wouldn’t surprise me at all if the S&P ends up under 1,000 when it’s all over. This is the Fed bubble. Prepare yourself.
Lot's of companies don't make anything. Manufacturing is not the only way to provide value.
The economy is catching up with the bubble.
And I can’t see the S&P losing almost 2/3 of its value.
Some stocks out there are grossly overpriced, and there are few bargains available. As usual, the international banksters will throw in a ‘correction’ to liberate money from the normal folks to enrich themselves, but they can’t hold down a booming economy long term.
"...Lots of companies don’t make anything. Manufacturing is not the only way to provide value..."
What clap trap from CNBC! Alphabet (GOOG) is down 1.36% in the after-hours market. Amazon (AMZN) is down 1.75%. Netflix (NFLX) is down 2.17%. Hardly a rout.
Amazon reports earnings after close Thursday. I would not be surprised to see Amazon’s stock price grind up into the close on Thursday on expectations that earnings are higher than expected.
I have been an investor for over 50 Years. (Yes I really am that old and yes I really did start that early.)
Since the mid-1990s, when it became possible to easily follow averages on the internet, days when markets have risen for fallen by 0.8% Have happened several times each month.
This is a big nothingburger. Keep your eye on the GPD numbers which are set to be released on Friday. President Trump has already seen them, since he is bragging about them already, so it is going to be good.
I am hoping for 4+% increase. That would really boost the market.
It will take Facebook most of the rest of the year to get back to 217.
August through September are awful months.
Hunting for bad news to try to offset the super economic data......”Economy is supercharged.....but Facebook is having a lousy time....”
Facebook is certainly the creepiest invention in history, and potentially the most powerful tool of authoritarians and tyrants. People are finally waking up to this.
And by the way, is Zuckerberg the real voice of Kermit the Frog?
Suckerberg on suicide watch ...
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